Great Eastern Shipping sells oldest suezmax tanker as fleet clear-out extends

MUMBAI : The Great Eastern Shipping Company Limited (GE Shipping) announced that it has contracted to sell its 2005-built Suezmax Crude Tanker, Jag Lalit. The vessel, with a capacity of approximately 158,344 deadweight tonnage (dwt), will be delivered to an unaffiliated third party by the third quarter of fiscal year 2025.

Including Jag Lalit, the company’s current fleet stands at 43 vessels, comprising 29 tankers – six of them are crude carriers, 19 are product tankers, and four are LPG carriers. The company also has 14 dry bulk carriers – two capesize, eight kamsarmax, and four supramax aggregating 3.41m dwt.

Recently, the company sold one MR product tanker and one supramax drybulk carrier, due for deliveries by the third quarter of the fiscal year 2025.

The sales are part of the company’s plan to rejuvenate its fleet. The sold MR was a 2005-built vessel shed only after picking up the 2013-built STI Beryl from Scorpio Tankers for $36.6m a month earlier.